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NetStar-1 and Whitney, Bradley and Brown, Inc. Merge

Form Premiere Management Consulting Services Firm Focused on the Needs of the Federal Government

March 8, 2012

NetStar-1, a leading provider of management consulting services to U.S. federal agencies, and Whitney, Bradley and Brown, Inc. (WBB), a management consulting firm focused on business transformation, organizational realignment, and process improvement, today announced that they are merging their business operations effective immediately. The merger follows a significant investment in WBB by Lake Capital, a private equity firm that invests exclusively in service-based companies. Lake Capital made its initial investment in NetStar-1 in 2007.

Founded in 1981 with its roots in serving the Department of Defense, WBB has grown to become a leading provider of CONOPs, requirements, organizational development, acquisition, and technical consulting services to agencies including the Department of Defense, the Department of Homeland Security, and the Veterans Health Administration. “We are excited about the increased scale and reach within our target markets that this merger brings us,” said William McMullen, President and CEO of WBB. “We believe NetStar-1 enhances our past performance and the depth and breadth of our management consulting resources. This will enable us to aggressively grow our business by positioning ourselves more competitively on substantial governmental initiatives and prime contract awards, and strengthen our ability to support our clients with innovative solutions that are relevant to today’s federal government needs.”

NetStar-1 is a leading provider of transformation, program management, requirements, and business and financial management consulting services, primarily to clients within the Department of Homeland Security. “This merger extends our strategic initiative to become one of the leading management consulting organizations focused on the federal government,” said Kevin Rowe, President and CEO of NetStar-1. “That initiative began in October of 2010 when we divested our Technology Solutions and Commercial Sales divisions to focus exclusively on management consulting services. By joining our resources with WBB’s we gain substantial scale and broad agency coverage which will allow us to more aggressively grow our business. The resulting cost synergies of the merger will allow us to provide high quality services in an increasingly competitive market.”

The combined company will have over $130 million of revenue and 500 employees. Key customers include the Department of Defense, Department of Homeland Security, Veterans Health Administration, Department of Justice, Office of Personnel Management, and a number of government-related contractors in the private sector. William McMullen will become President and CEO of the combined company and Kevin Rowe will become Chairman. The combined company will operate under the WBB brand and will be headquartered in Reston, VA.

Two government contractors owned by the same private equity group are combining operations to form a single company.

Whitney, Bradley and Brown Inc., which was acquired this week by Lake Capital, will merge with NetStar-1.

The combined company will operate under the Whitney, Bradley and Brown name. William McMullen, president and CEO of WBB, will continue in that position. Kevin Rowe, president and CEO of NetStar-1, will become chairman of WBB.

The new company will have over $130 million in revenue and 500 employees. Key customers include the Defense, Homeland Security and Justice departments, Veterans Health Administration, Office of Personnel Management, and a number of government contractors in the private sector.

The company’s capabilities include management consulting services such as business transformation, organizational realignment, process improvement, acquisition and technical consulting services.

The investment bank KippsDeSanto served as an adviser to WBB in its sale to Lake Capital. Terms of the transaction were not disclosed.

Lake Capital acquired NetStar-1 in 2007.

About WBB

Headquartered in Reston, VA, WBB is a premier management consulting and technical services firm that acts as a trusted and long-term advisor of choice for the Department of Defense, federal civilian agencies, and defense-related commercial companies. WBB has an established reputation for providing tailored solutions that address sophisticated government challenges and help priority security agencies achieve mission success. For more information on WBB visit www.wbbinc.com.

About Lake Capital

Lake Capital is a private equity firm that focuses on investments in service-based enterprises across various industries. The firm currently manages more than $1.3 billion in equity commitments and seeks to build leading services companies through organic and acquisition-enhanced growth. More information about Lake Capital is available at www.lakecapital.com.



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